Tianye Co., Ltd.: Deeply bundled new tea drinks to achieve rapid growth The industry's "cooling" performance growth is under pressure

On June 15, Tianye Innovation Co.

The prospectus shows that Tianye’s operating performance has shown a fluctuating upward trend in recent years, and the growth rate will be faster in 2021

In addition, from 2019 to 2021, the proportion of the company's food and beverage customers' revenue decreased from 57.

It is worth noting that although Tianye Co.

The reporter sent an interview letter to Tianye on issues such as reliance on a single product and the decline in net profit.

Anchor in the new tea market, double the revenue

According to public information, Tianye Co.

Tianye shares plans to raise 475 million yuan, mainly for the construction project of Hainan Free Trade Port Smart Factory (Phase I) and the expansion project of tropical characteristic industries in Dachuan, Hainan

The prospectus shows that from 2019 to 2021, Tianye Co.

The reporter noticed that the rapid growth of Tianye's business performance is inseparable from its anchoring of the new tea industry

　　Subsequently, the customer structure of Tianye shares changed

　　The change in customer structure has also led to changes in Tianye's product structure

　　It is worth noting that Tianye Co.

　　The blue ocean of the tea beverage market has turned into a red ocean, and the performance growth is under pressure

　　Before the proposed IPO, in a directional stock offering of Tianye shares, Shenzhen Pindao Catering Management Co.

　　Although Tianye shares brought rapid growth to its own performance by bundling the new tea industry, it was also restricted by the market

　　At present, the competition in the new tea beverage market is increasing day by day.

　　In this environment, many new tea brands have lowered their prices to gain market share and expand more customers

　　Nai Xue said that the price adjustment "is based on its own strong supply chain capabilities, digital capabilities and quality control capabilities
.
" On the premise that the selling price is reduced and the raw materials are not replaced, the cost of the upstream raw material juice may be squeezed
.

　　In 2021, the average price of products sold by Tianye to the new tea industry is 16,700 yuan, a decrease of 3.
59% from 17,300 yuan in 2020
.
According to the first quarterly report of Tianye shares in 2022, the company achieved an operating income of 68.
4598 million yuan, a year-on-year increase of 0.
56%, and a net profit of 3.
0149 million yuan, a year-on-year decrease of 54.
43%
.

　　It is worth mentioning that in the pre-IPO fixed investment terms, Tianye shares promised to complete the qualified listing on the Shanghai Stock Exchange or Shenzhen Stock Exchange before December 31, 2024.
If the listing is not completed within the specified time, it needs to be repurchased.
Private placement of shares to Nayuki's tea
.

　　(Wang Jinchen)

　　Responsible editor: Zhang Jiazhen Review: Ouyang Meihua